$TRUMP shitcoin is even worse than people think, in case you considered buying, perhaps read this first, then do whatever you like. Or don't read and regret later.
The worst aspect is definitely the Sentiment around it. The only retail people that made money on it are those that shorted it, pretty much. Myself included, and I'm kicking myself for closing that position right now. Here is why:
The chart looks absolutely awful, bearish Market Structure, bearish momentum with plenty of room on the RSI to keep falling towards the Bearish Pennant Target at $3.5.
Obviously, there is zero previous history below as this crap opened started trading from its ATH and has kept falling ever since. So, zero TA-based support.
If I had to find one positive with sth (censorship) to my head, I would only say that the volumes on the way down have been falling with the price, and that's it.
It gets worse. Tokenomics is even more horrible, I used AI chatbot to save time:
'As of February 10, 2025, the Official Trump (TRUMP) token has a circulating supply of approximately 200 million tokens, representing 20% of its total 1 billion token supply.
The remaining 800 million tokens are held by entities associated with President Donald Trump, such as CIC Digital LLC and Fight Fight Fight LLC, and are subject to lock-up periods ranging from 3 to 12 months, followed by initial cliff releases of 10% to 25%, and subsequent daily vesting over 24 months.
The next scheduled token unlock is set for April 18, 2025, when 40 million TRUMP tokens (4% of the total supply) will be released.'
All in all, what an utter pile of garbage on fire. Bad for the industry too. I should have kept the short, printed nicely, but the next Liquidity cluster is right below. $13-14, when I spot a possible reversal, I will likely post about this. It might not be very soon, though👽💙
Ps. Anyone into $MELANIA analysis, let me know in comments.
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